Bitcoin is retesting a $91.8K–$95.9K support cluster, where three core indicators align, marking a critical decision point for bulls.
A $1.8B inflow on May 29 signals strong institutional demand, echoing 2021 levels and fueling Bitcoin’s sustained rally potential.
Retail remains sidelined despite Bitcoin nearing $100K, hinting this run is driven by deep-pocketed accumulation, not cycle top mania.
Bitcoin is retesting a key structural cluster between $91,800 and $95,900, where three critical technical metrics converge. This support zone, composed of the 111-day SMA, 200-day SMA, and the Short-Term Holder Realized Price, could define Bitcoin’s short-term direction amid a broader bullish market cycle.
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Bitcoin’s short-term correction has brought price action near a crucial support band. The 111SMA at $91.8K, the 200SMA at $94.3K, and the STH-RP at $95.9K form a tight cluster now acting as a technical “floor” for the market.
Throughout mid-2024, BTC traded below these levels, signaling indecision. However, by November 2024, price reclaimed both the 111SMA and STH-RP, initiating a sustained upward move that pushed it toward $110K by May 2025.
This zone has repeatedly served as support. Price respected the 200SMA during the March retracement and rebounded strongly in April, confirming structural integrity. Holding this range suggests buyers are still active at higher cost bases.
Largest BTC Inflows Since 2021 Reinforce Demand
On May 29, Bitcoin recorded a $1.8 billion daily inflow, the largest since the 2021 cycle top. This level of capital entry confirms investor appetite at current prices and underscores institutional conviction in the asset’s trajectory.
The chart above shows inflow peaks of $3.6B in 2023 and $4.5B in early 2024. This latest spike follows a Q1 2025 pullback, suggesting capital is rotating back into Bitcoin as it reclaims long-term support levels. Each new inflow wave since mid-2023 has surpassed the previous one. This behavior typically reflects large-scale reaccumulation, often preceding explosive price expansions in prior cycles.
Leverage Washouts Reset Market Risk
Between $104K and $106K, liquidation data from Binance revealed heavy selling pressure. Over $49.58M in liquidations occurred as the price broke under $104,400, forcing out overleveraged traders.
The heatmap above shows liquidation bands clustering around $105K, where BTC was repeatedly rejected. After cascading downward, the absence of overhead liquidity suggests fewer barriers for upward continuation. These liquidations removed excess risk from the system. With downside liquidity cleared, Bitcoin may be positioned to test new highs, provided it maintains support at the confluence zone.
Retail Still Absent as Institutions Dominate
Despite BTC nearing $100K, retail trading remains below its one-year average. Mister Crypto highlighted that no previous cycle top occurred under such low retail participation. This anomaly suggests continued institutional accumulation, not euphoric buying. Structural maturity, not mania, defines this rally.
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